Contracts Between Agents

jerkboi73

New Member
3
I have a friend who is currently an independent agent with 360 Financial. He is currently in the process of getting me contracted with several carriers. My friend wants me to sign an agent agreement between us. The agent agreement contains legal jargon pieced together from different carriers agent contracts. I have never heard of agent agreement between agents. I am looking for guidance. Thanks in advance
 
The only proper way to figure out the agreement is with an attorney. Like a good doctor, dentist, insurance agent, etc. a good one is worth their weight in gold when you need them.

As far as an agreement between agents, I haven't heard of it, but generally agents don't need one, because it's usually between the agent and the broker, and/or carrier.
 
It seems that your friend wants to contract you under his agency and he becomes your direct upline and not directly to 360 Financial. But still use 360 Financial as the IMO.

Nothing wrong with that, especially if he's going to provide you hands on training, office space, internet, etc. Agents and agencies do this all the time.

If he's not going to provide you anything, than you will have to decide if you want to contract under his agency or not.
 
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I have a friend who is currently an independent agent with 360 Financial. He is currently in the process of getting me contracted with several carriers. My friend wants me to sign an agent agreement between us. The agent agreement contains legal jargon pieced together from different carriers agent contracts. I have never heard of agent agreement between agents. I am looking for guidance. Thanks in advance
Simple, he wants to be your upline. Normal stuff. He recruited you, why shouldn't he make a little money off of you. Have him sign a release form.
 
Like what is being said, I am not an Attorney but it 100% sounds like he is puting you in his downline. So essentially he is making money off you. Very Common practice in the Independent scene. Now a days they can be referred to as “referring agent.”
 
Taking this one step further, I would recommend a written contract anytime two agents who want to business together, no matter what. Have seen many instances where one side sours on the deal.
 
Taking this one step further, I would recommend a written contract anytime two agents who want to business together, no matter what. Have seen many instances where one side sours on the deal.

Exactly, that is also why you can also feel out what the agents intentions are. If an agent is agressively trying to get you to joint or jump to his company, he is making money off you. If he doesn’t care that you are in the same business then he is not.

Real Estate Brokers are using the same model now. They tell there agents to recruit people, and they get a cut.
 
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